SAN DIEGO, Oct. 16, 2023 (GLOBE NEWSWIRE) -- Encore Capital Group, Inc. (NASDAQ:ECPG), an international specialty finance company, today announced that it has completed its offering of €100.0 million aggregate principal amount of its senior secured floating rate notes due 2028 with a coupon of three-month EURIBOR (subject to a 0% floor) plus 4.250% at an issue price of 99.01%.
Encore will use the proceeds from this offering to repay drawings under its revolving credit facility, and to pay certain transaction fees and expenses incurred in connection with the offering of the notes.
"The completion of our senior secured floating rate note offering today, as an addition to our December 2020 offering, demonstrates that our global funding structure continues to provide us with one of the best balance sheets in the global credit management services industry," said Jonathan Clark, Executive Vice President and Chief Financial Officer. "With growing supply and improving pricing in the U.S. debt buying market, we expect 2023 will be a record ...
